000 | 01476nab a22002057a 4500 | ||
---|---|---|---|
008 | 160615b2014 xxu||||| |||| 00| 0 eng d | ||
100 | _aLi, Yong | ||
245 |
_aNational distances, international experience, and venture ca investment performance _cLi, Yong. |
||
260 | _c2014 | ||
300 | _a471-489 | ||
520 | _aThis study examines how the performance of cross-border venture capital investments is affected by national institutional and cultural distances between the environments of venture capitalists (VCs) and investee ventures. We propose that institutional and cultural distances will decrease VCs' effectiveness in conducting venture capital activities and negatively affect investment performance in terms of exit success, and obtain supportive evidence while controlling for geographic distance. We further analyze how VCs can use their international experience to mitigate the negative consequences of national distances. We find that while broad international experience in diverse countries attenuates the deleterious effects of institutional distance in a significant way, it does not have a similar impact in attenuating the negative effects of cultural distance. | ||
650 | _aExit | ||
650 | _aInternational Experience | ||
650 | _aCultural Distance | ||
650 | _aInstitutional Distance | ||
650 | _aCapital Investment Performance | ||
650 | _aCapital Investement | ||
650 | _aVenture Capital | ||
773 |
_aJournal of Business Venturing _dJuly |
||
999 |
_c41524 _d41524 |